The latest ABS demographic statistics show the population reached 24 million in March 2016, an increase of 327,600 people over the year which amounts to 1.4% annual growth.

With growth of 1.9%, Victoria has the fastest growing population; New South Wales comes in second at 1.4%; and Queensland is third at 1.3%.

Geordan Murray, HIA Economist says: “It’s no coincidence that these three states have also been the strongest-performing economies over the last year.

“It’s not surprising that we are seeing more people being drawn to the jurisdictions with better-performing economies, where the population growth has been instrumental in generating the additional demand that underpins strong economic performance.”